On January 1, 2020, Pink Corp. 'sold' a machine for $10000 to Slink Corp., its...
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Accounting
On January 1, 2020, Pink Corp. 'sold' a machine for $10000 to Slink Corp., its wholly-owned subsidiary. Pink paid $18000 for this machine. At January 1, 2020, accumulated depreciation was $4000. The remaining useful life is assumed to be 20 years. Straight line depreciation is used by both companies. In Pink's December 31, 2020 consolidated balance sheet, at what amount should the MACHINE be reported
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